USA Services PMI For June 54.4 Vs 54.1 Est.; 54.9 Prior
Portfolio Pulse from Happy Mohamed
The USA Services PMI for June was reported at 54.4, slightly above the estimated 54.1 but lower than the prior figure of 54.9.
July 06, 2023 | 1:45 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) could be impacted by the USA Services PMI data, as it reflects the overall health of the US economy.
The Services PMI data is a key indicator of the health of the US economy. As SPY tracks the S&P 500, which is a broad representation of the US stock market, any significant changes in economic indicators like the PMI could potentially impact the ETF's performance. However, the slight increase in PMI over estimates is unlikely to have a major impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75